Product Guide Buy Today Sell Tomorrow (BTST) Buy today sell tomorrow hereinafter referred to as BTST, is a facility offered by JHAVERI Securities Ltd (hereinafter referred to as JHAVERI Securities) which allows the Client to sell the securities which the Client had purchased through JHAVERI Securities, before the same are credited to the Client s demat account, and hence the Client need not wait to sell the securities till the actual credit of the purchased securities into his demat account. BTST facility is offered to the Resident individual Indian clients of JHAVERI Securities. Notwithstanding the above, JHAVERI Securities reserves the right to refuse this facility to any Client or group of Clients at its sole discretion and without assigning any reason. JHAVERI Securities shall decide upon the list of securities, which shall be eligible for this facility. This list would be subject to change at the sole discretion of JHAVERI Securities from time to time. JHAVERI Securities may also at its sole discretion decide to withdraw a particular security from the list without notice to the clients and without assigning any reasons whatsoever. Currently all S&P CNX NIFTY scrips are available under BTST facility. Under BTST facility the quantity of securities available for sale shall be only such percentage of the quantity of securities bought by the Client, as may be permitted by JHAVERI Securities from time to time. JHAVERI Securities may at its sole discretion vary the percentage, if it deems fit, without notice to the clients and without assigning any reasons whatsoever and the Client will at all times be required to abide by such decision. The Client shall be permitted to sell the previously bought security under BTST within such number of days as prescribed by JHAVERI Securities from time to time. Securities bought on a particular day (i.e. day T) can be sold by the Client within the period commencing on T+1 day and ending on T + 2 day (or by an earlier day if so specified by JHAVERI Securities). The Client will not be allowed to sell the securities on T + 3 under this facility. The purchase and sale transactions of the securities under the BTST facility will be on the same Exchange i.e. securities purchased from NSE, will be allowed to be sold only on the NSE, and not on the BSE and vice versa. However in case of securities under no-delivery period, the T+1 day will start from the day on which the scrip comes out of no delivery. Securities purchased by the Client which are pending to be credited to the client s demat account can be viewed by the Client after logging in for trading application on the Obligation Report/Obligation page and client may place order to sell the eligible securities upto the permitted percentage under the BTST facility. The client can see the maximum number of shares which can be sold under BTST (with default selection of OBL) permitted against the corresponding settlement number. (Refer demonstration shown in last pages.) This is being calculated by JHAVERI Securities after considering the client s buy position in the corresponding settlement and also on JHAVERI Securities internal risk profile of that particular stock. The rest of the details which are required to be filled up are similar to that of a normal sell order. The brokerage rates will be the same as that are applicable for equity trades. Pursuant to the Client availing of this facility the securities bought by the client in one settlement shall be retained either partly or fully by JHAVERI Securities in its demat account for the purpose of meeting the pay in obligation of the client towards the securities sold by the client in the subsequent settlement(s). In case there is a short delivery from the Exchange for the earlier buy transaction, then the client will also be giving short delivery for his sell transaction. The Exchange would either give delivery of shares bought earlier through market auction or shall closeout the buy transactions as per the Exchange Regulations. However, this would not help the client in meeting his sale delivery obligation already committed by him as even if he receives the shares bought earlier through auction settlement, by that time the securities pay-in date for his sell transaction would be over. In such case, the client will have to face auction proceedings against his sale transaction and will have to bear the auction losses, auction penalties, cost of funding and any other incidental charges etc. All cost and consequences of any auction arising out of
such BTST sell transactions shall be fully borne by the client and JHAVERI Securities would not be held responsible for any such short delivery received by the client and the consequential impact thereof. In case of short delivery, JHAVERI Securities will reduce the trading limits of the client to the extent of the likely auction amount. On receiving the actual auction amount from the Exchange the limits will be adjusted to reflect the same and the auction amount will be recovered from the customer. In order to recover any pending dues from the client pursuant to the client availing of the BTST facility, JHAVERI Securities may transfer any funds/securities pertaining to the client or may sell the client s securities. The use of this facility is entirely voluntary and the facility has to be used in accordance with the applicable rules/ regulations/ guidelines specified by the Securities and Exchange Board of India and other competent authorities from time to time. JHAVERI Securities disclaims all liability for any loss caused to the Client out of the purchase or sale of securities through use of this facility. Demonstration to view and place BTST sell order in Trade Velocity (EXE based) 1. Securities purchased by the Client which are pending to be credited to the client s demat account can be viewed by the Client after logging in for trading application, select Obligation Report from Report Option at home page. Click on Report and select Obligation Report
2. Client may place an sell order by right click on selected scrip in Obligation Report as shown below: Right click on stock customer want to sell by selection of Sell 3. Put the desired quantity and price to be sold as BTST by click of Sell. Put the sell order in the sell window.
Demonstration to view and place BTST sell order in Trade Insta (Browser based) 1. Securities purchased by the Client which are pending to be credited to the client s demat account can be viewed by the Client after logging in for trading application, select Obligation from Allowable Option at home page. Select Obligation from the Allowable Option at home page. 2. Below shown is the Obligation report where the client can see the open position for the purpose of BTST. This is Obligation Report Click on Sell to place an order for sell of stock
3. Client can square up the open position by click of square off option as shown below: This is the sell window where position will sold on click of Square Off